Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Cash account in the records of Hensley, Incorporated showed a balance of $5,350 at June 30. The bank statement, however, showed a balance of
The Cash account in the records of Hensley, Incorporated showed a balance of $5,350 at June 30. The bank statement, however, showed a balance of $9,150 at the same date. The only reconciling items consisted of a $1,100 deposit in transit, a bank service charge of $18, and a large number of outstanding checks.
What is the total amount of the outstanding checks at June 30?
Multiple Choice
-
$4,918.
-
$4,900.
-
$4,250.
-
$3,114
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started